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GDX

Vaneck Vectors ETF: Medium term sell opportunity.GDX has printed a Death Cross (MA50 crossing below the MA200) on a similar trading pattern as in 2016. The RSI price sequence is also identical, indicating that at least one more bearish sequence is due. With MACD turning at -0.277, it is an optimal opportunity to short. Our TP is 19.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
AMEX:GDXShort
by InvestingScope
GDX - Gap closedDespite the good NFP data gold is bouncing. If you watch closely the GDX chart yesterday we broke below an important support of 20.25. As of today it should have become a resistance instead of a back test we are above 20.25 again. In my books it's a false breakdown. We not just closed the gap but broke below the 200 SMA. The chance is extremely high that the miners bottomed yesterday. One can wait for a close above the 200 SMA with the buying, but with the RSI divergence and the MACD close to cross over I'm buying here. If a rally is beginning here it might be legendary.
AMEX:GDXLong
by chartwatchers
GDX - Metals Trading | Elliott Wave Structures I Q2 2019*If you like this idea please support it with a like so I can publish more. Thanks! More details about me in my signature. GDX - Elliott Wave Outlook Bullish Swings - Patterns: ABC swing in Intermediate (A) (green Simple Correction in Intermediate (B) (green) Ending Diagonal in Intermediate (C) (green) Bearish Swings - Patterns Sharp Bearish Impulse in Intermediate (A) (light blue) Simple Correction in Intermediate (B) (light blue) Ending Diagonal in Intermediate (C) (light blue) Bullish Harmonic Pattern Next expected swing: Bullish leg in an attempt to reenter the Channel. Structure change: A breach on the down-side in an impulsive manner could lead towards a down-trend confirmation for Precious Metals.
AMEX:GDX
by Lionheart-EWA
6
Elliott Wave View: More Weakness in GDXElliott Wave view calls the decline in Gold Miners ETF (GDX) from March 27, 2019 high ($23.40) as an impulse structure. In the chart below, wave 2 of that impulse ended at $22.93. Down from there, wave 3 ended at $20.67 and wave 4 ended at $21.43. The miners still need to break below wave 3 at $20.67 to validate the view and avoid a double correction. The internal of wave 3 subdivides as an impulse Elliott Wave structure of lesser degree. Wave ((i)) of 3 ended at $21.89 and wave ((ii)) of 3 ended at $22.29. Down from there, wave ((iii)) of 3 ended at $20.71, wave ((iv)) of 3 ended at $20.97, and wave ((v)) of 3 ended at $20.67. Wave 4 bounce unfolded as a zigzag Elliott Wave structure. Wave ((a)) ended at $21.19, wave ((b)) ended at $20.76, and wave ((c)) of 4 ended at $21.43. Near term, while bounce stays below $21.43, and more importantly below $22.93, expect the miners to extend lower. Potential target to the downside for wave 5 is $19.6 – $20, which is where wave 1 = wave 5.
AMEX:GDXShort
by Elliottwave-Forecast
GDX -Waiting for a buy setupWe are getting closer and closer to an important buying opportunity in gold miners. Though yesterday we almost tagged the 200 SMA and bounced I still don't see that buying opportunity what i like to see at the gold miners bottom. At the beginning of today's trading we broke above yesterday's high which is usually a buy signal but after a few hours of trading we gave back all the gains and closed in the red. I think we are quite close to the bottom in days - 4-5 days only - but these last few days can be extremely scary as we print the cycle lows. First of all I dont see the volume spike what usually occurs at these intermediate bottoms: The other thing that we stiill have a gap between 20.5 and 20.8 which pulling down price like a magnet: Today was the 5th day since we broke below an important level at 21.41 and usually these breakdowns lasting for 7-8 trading days: Today was day 5 of the breakdown. So I would wait with the buying till next week in the miners as we might have 3-4 red days ahead in the upcomong trading sessions.
AMEX:GDX
by chartwatchers
3
AIG's Pre GFC Bubble vs. Gold. Interesting similarity.Not that this is necessarily meaningful, but I find the characteristics of these assets rather strikingly similar. While I certainly would not trade off this alone, it kind of cements my view that Gold is potentially due to for a huge selloff here, which is a very contrarian take in today's market environment. The charts read extremely similarly... peak exuberance hits then bursts to a low that is half way down the increase since the start of the bubble. For AIG, this was the dotcom bubble, and for Gold, it was the commodities exuberance from 2000-2011. After initial burst, market stabilizes and the asset recovers, but is a shell of what it was during the bubble era. It rises, bouncing off a new neckline back and forth over the next 7-8 years with smaller waves in each bounce. At the end of 8 years, the narrowing bounces hit the neckline, and sell off likey in tandem with some variety of crisis). The crisis breaks the neckline, and the bear market resumes for the asset, forcing technical traders to realize that the previous 7-8 years were a very long bear flag bouncing off a neckline. And for whatever it's worth, I'm not saying this is a high probability scenario that Gold breaks the neckline, and I certainly don't think it's going to zero. But I think there is a much higher risk of a big selloff in gold than the market realizes.
NYSE:AIG
by GTStockmaster
3
Gold Breaks Through Support As PredictedGold breaks through strong support region, pushed down by positive macro news flow as predicted in my previous post. This completes the descending triangle pattern, was a reversal The support region marked could be changed based on more news flow, will be updated regularly. 1.) More positive earnings surprises will likely follow 2.) Positive trade news is more likely than negative trade news 3.) No Brexit fears currently to support Gold prices Check out my blog gdxdaily.com to see how I determine my investment thesis!
TVC:GOLDShort
by FireFly450
GDX Triangle, Downside Preferred~Haven't touched stocks or ETFs for a while and now I decide to get back to my favorable Gold stock analysis. We can easily spot that flag on 4H or Daily chart of GDX, normally with previous bullish price action, gold has slightly more chances on breaking the top side of the triangle. But!! When I zoomed out to weekly, it tells me a different story. GDX was unable to break the resistance, and I'm thinking that we are on a beginning of a small bear. And I'll post the screenshot below. I'll keep this post as long as I can and I may consider to enter a trade once there's a breakout on the triangle.
AMEX:GDXShort
by Cornhub
16
GDX Gold Miners First Take Profit Reached, Still Long Short TermThis is a continued trade based on my previous post. This was posted on my blog yesterday night We have a big week ahead of us with potential updates on several important political event, along with some important economic data being released throughout the week. The news that we should keep our eyes on are updates on the trade deal, and vote outcomes of the Brexit extension set to be voted on Wednesday. US and China are in what seems like the final stretch of signing a trade deal that could help boost the world economy, however we can’t discount the multiple occasions where US trade reps admitted that there are still issues which need to be resolved before a deal can be made. As long as investors are still in the dark, markets will likely trade in a range as the speculation continues. Wednesday is looking like a big day in terms of catalysts that could drive the market in one direction, at least in the very short term. We have the decision on the Brexit extension, as well as CPI numbers coming out in the US. These indicators and events could help Gold break out of its recently tight range and make a strong push in one direction. As previously mentioned in my daily posts, Gold has been consolidating at the bottom end of its descending triangle, meaning it’s found support and more likely to breakout to the upside than downside. As of writing this, Gold is up 0.4% overnight so far and I believe it’ll push up to at least the downward trendline. The US dollar is still relatively flat, and looks to be consolidating as well near the top end of the ascending triangle. My current view is still that it’ll likely trend down after some more sideways trading, however my thesis depends on the price action this week so stay tuned for my daily updates. Yields are starting to slip as investors wait for more catalysts, with CPI numbers and the Fed minutes being the most important ones this week. Gold miners will likely continue its short-term trend upwards given the bullish sign from Gold. While I am bullish on miners in the short term, I will be actively taking profits as it hits the previous resistances marked on the chart. My medium term view is still unclear and depends on further macro development and more concrete directional news flow. I will also be watching the price action throughout the week to gauge sentiment that might be helpful in my predictions. Have a great trading week everyone!
AMEX:GDXLong
by FireFly450
GDX Not Done YetGold falls as US dollar rises, accompanied by an across the curve rise in yields. Today’s macro news was relatively light with GDP data coming in slightly lower at 2.2% vs 2.4% expected, and initial jobless claims 211K vs 225K expected. There was a new piece of trade news indicating that China is willing to give the US more access to its domestic cloud-computing industry. The market is currently looking for more directional signals, whether it be from trade news or economic data. The yield curve remains inverted when you consider the 3 months and 10 year, however that does not give a clear sell signal as of yet. The initial sell-off due to the inversion was quickly bought up, indicating that there’s still a lot of bullish momentum. A recent JPM analyst showed that even though the 3 and 10 inversion preceded all the recessions, it wasn’t until months later that the market turned negative. In fact, the market performs has historically performed well right after an inversion. What I believe is most likely is that the SPX will trade in a fairly large range until a string of positive or negative news can push it into a longer trend. Range is between $263 and $285, it seems like a large range but when considering the amount of volatility we’ve had over the last year, it’s not unlikely that we may get a 5%-6% correction, especially since the SPX has been trading at the top of its range over the last 6 months. If the correction does come, I believe it might cause some investors to think the same 2018 sell-off is happening, and pile into gold as a safe haven. Yield Curve Forecast: Yields will likely remain flat and trade within the current range, unless a string of positive economic news is released. The 10 yr is likely to trade within the 2.35%-2.45% range. This will help support gold prices in the near future. US Dollar Forecast: The US dollar has recently consolidated and has finally pushed upwards towards its resistance at 12275 (US dollar index). It’s currently trading in an ascending triangle pattern and could be stopped again at that key resistance. If that’s the case, then I expect the US dollar to fall to the sub 12100 levels. This will help push gold prices up further in the near term. Gold Miners Forecast: I believe gold miners still have more room to run for several reasons, most are mentioned above: 1.) The probability of the US dollar going on a major bull run is slim. 2.) Yields should continue to be pressured downwards/staying in this low range 3.) Uncertain backdrop of global growth won’t cause a major sell off in safe haven metals such as gold I’ve accumulated 10% of a full position in $NUGT today at $20.47 at that first support, which it proceeded to break through in the afternoon. Looking to add 30% of full position at $19.05 and then another 30% at $18.
AMEX:GDXLong
by FireFly450
Short Term Bullish On Gold MinersGold miners have seen decoupled correlation with gold prices over the last couple trading sessions; while showing more correlation with broad equity market movements. SP:SPX just broke a key resistance level with heavy volume, meaning bullish moment in the short term. I believe this will help push AMEX:GDX upwards in the short term towards it's recent peak. GDX experienced some profit taking after the 7% surge yesterday due to the Fed leaving rates unchanged and having a more dovish tone. However, despite the selling, GDX managed to pull back into the green, indicating new buyers are coming in. Gold prices should remain supported enough to avoid negatively impacting gold miner stocks. Yields are still in a heavy downward momentum as investors are piling into bonds because of conflicting news regarding the economy. US dollar price action is showing an ascending triangle, therefore indicating that it's still bearish in the short term unless we see a breakout above resistance with strong volume. Positive Economic Catalyst Feds are leaving rates unchanged and derivatives market is pricing in a roughly 50% chance of a rate decrease by 2020. Given that low rates support the attractiveness of gold, gold miners should have a higher probability of increasing as well. Negative Economic Catalyst Once again Feds are reiterating a slow down in the global markets that could affect the US economy, which is in a good state right not, but not impenetrable from external shocks. Still a lot of uncertainty over China trade deal. When will it be signed? What will the details be? How long will the tariffs be kept after a deal is signed? If we do get a sell off due to market fears, this should help lift gold prices. ***Caveats to this analysis: 1.) The resistance at ~22.95 is too strong and not enough buying power to push past it. In this case it's very likely that a new trend will develop in the absence of any further macro developments 2.) Broad equity markets could sell off sooner than expected and cause gold miners to sell off as well. However as mentioned above, if markets sell off rapidly and fear kicks in, gold prices should rise due to its safe haven nature, which supports gold miners.
AMEX:GDXLong
by FireFly450
1